CBS.MarketWatch.com

SCREAMER: Steris Corp.
STE, -0.56%
shares dropped 33 percent, or 7 3/4 to close at 16 1/8 Wednesday after several analysts were negative on the medical equipment company despite its better-than-expected fourth-quarter earnings report. BT Alex. Brown sliced the stock's rating to "market perform" from "buy" and Dain Raucsher Wessels lowered FY 2000 earnings estimates to $1.35 a share from $1.46. See Screamers.

U.S. stocks to watch

Abovenetabov
is raising $455 million by selling 4 million shares through a secondary offering led by CIBC World Markets. The deal is expected to price on Thursday. Abovenet went public last December at $13 a share. Shares fell 9 1/8 to 100 7/8.

Alpharma Inc.ALO, -3.26%
reported a first-quarter profit of 27 cents a share, beating the year-ago quarter by 6 cents a share. The report also beat the average estimate of analysts surveyed by First Call, which was 25 cents a share. The company reported a revenue increase of 24 percent over the year-ago period to $156.7 million, citing strong sales growth in its human pharmaceuticals businesses and the acquisition of Cox Pharmaceuticals. Shares closed down 1 3/16 to 32 11/16 ahead of the news.

Amazon.comAMZN, -0.11%
posted a narrower-than-expected loss of 23 cents a share in the first quarter. Analysts estimated the online retailer to lose 29 cents. Amazon shares fell 12 1/8 to 193 1/2 in anticipation of its earnings results. See full story.

Applebee's International appb
beat analysts' estimates by 2 cents a share in the first quarter, according to First Call figures. The casual dining restaurant operator earned 44 cents vs. the 39-cent profit in the same quarter a year earlier. Ahead of the report, shares declined 5/16 to 23 13/16.

Callaway Golf Co.ELY, -1.10%
earned a better-than-expected first quarter profit of 18 cents a share. According to First Call, 10 analysts projected the company would earn 12 cents. The company said it will keep its negative sales forecast for 1999 as a result of uncertainties in the U.S. and international markets despite strong profits in the first quarter. Shares added 9/16 to 14 15/16 ahead of the news. see press release.

Infospace INSP, +5.71%
is expected to report first-quarter results on Thursday. The First Call consensus is a loss of 14 cents vs. break-even last year, and a negative 7 cents in the prior quarter. Infospace's Chief Executive Naveen Jain told CBS MarketWatch.com at the Hambrecht & Quist conference that the Internet network will release its "active shopper" product in the next few weeks. Shares fell 12 to close at 114 1/2.

National Fuel Gas Co. NFG, +1.50%
said it earned $1.57 a share in the first quarter, 4 cents above the consensus estimate according to a First Call survey, and 8 cents ahead of the profit earned in the same period a year earlier. The diversified company said the surprise was the result of earnings in all segments, except the Exploration and Production segment. Ahead of the release shares closed up 13/16 to 42 3/4.

Reader's Digestrd
shares may rip higher Thursday after the magazine and book publisher said it earned higher-than-expected earnings of 23 cents a share, nearly double the 13 cents earned in the same period a year earlier. Analysts surveyed by First Call estimated the company to earn 17 cents. The company said it expects full year 1999 operating profit to improve "significantly" over fiscal 1998. Shares rose 3/4 to 32 1/2 before the release.

SCI Systems SCI, +0.20%
posted net income of $32.4 million, or 48 cents a share in the third quarter. The report was 3 cents ahead of First Call. However, last year the company posted earnings of 50 cents and sales slipped to $1.60 billion from $1.69 billion in the year-ago quarter. Shares fell 1/4 to 35.

Scientific-AtlanticSFA, +5.00%
earned 25 cents a share in the third-quarter, excluding a one-time gain of 2 cents, beating the average estimate of19 cents, according to 15 analysts surveyed at First Call. The broadband communications supplier earned 22 cents in the same period a year earlier. Revenue in the quarter surged 11 percent to $320 million from $288.7 million a year ago. Shares fell 1 to 28 1/2 ahead of the news.

Wild Oatsoats
earned 24 cents a share in the first quarter, a penny ahead of analysts' estimates and 4 cents above the year-ago quarter. During the quarter, Wild Oats agreed to buy United Natural Foods Inc. in a cash-for-assets transaction. The company said the United Natural Foods acquisition and its purchase of General Nutrition Companies unit will add about $100 million incremental revenue for the year 2000. Ahead of the news, shares gained 1/16 to 27 11/16.

U.S. decliners

The Goldman Sachs Internet Index
$gin
slumped 6.9 and the Amex Internet index
$iix
slipped 4.8 percent. America Online aol
shares fell 10 to 143 even after the company said it earned 11 cents in its fiscal third quarter vs. 4 cents a share in the same quarter a year earlier. The consensus estimate of analysts tracked by First Call was 9 cents a share. The so-called "whisper" number circulating on Wall Street was 11 cents.See full story and Internet Stocks.

Creative TechnologyCREAF, -0.77%
shares dropped 1 3/4 to 12 1/8 after the company posted a profit of 20 cents a share in the third quarter, a nickel shy of the First Call average estimate. The maker of multimedia solutions for PC, entertainment and other markets earned 48 cents a share in the same period a year earlier.

McKesson HBOCMCK, +2.55%
shares plunged 31 1/4 to 34 1/2 after the drug wholesaler restated revenue and earnings for the fourth quarter and full year. The pharmaceutical supply and healthcare information company said it will reverse $26.2 million in sales in the fourth quarter and an estimated $16 million in prior quarters. The company, whose shares weren't available for early New York Stock Exchange trading, said the restatement was necessary because of improperly recorded software sales. See full story.

MindSpring EnterprisesMS.PG, +0.15%
shares dropped 13 5/8 to 102 11/16 even after the company recorded earnings of 16 cents a share, excluding one-time items, 3 cents ahead of the consensus estimate. Revenue rose to $61.6 million, compared with $39.5 million in the year-ago period.

Quantum qntm
matched most estimates of fiscal fourth-quarter profits with earnings of 33 cents a share vs. 2 cents in the year-ago quarter. Revenue at the data storage specialist rose 2 percent. The stock lost 2 13/16 to 17 9/16.

Scios SCIO, +2.22%
shares lost 5 7/8 to 3 13/16 after the biopharmaceutical company posted a wider-than-expected loss of 26 cents a share one day after the U.S. Food and Drug Administration rejected its new drug application for Natrecor. The company earned 3 cents a share in the same period a year ago.

Segue Softwaresegu
shares fell 11/16, or 11 percent, to 5 3/8 after the company incurred a wider-than-expected loss of 60 cents a share in the first quarter, excluding a restructuring charge vs. a loss of 3 cents a share in the same period a year ago. The company was expected to lose 18 cents, according to two analysts surveyed by First Call.

U.S. advancers

AetnaAET, -1.73%
shares gained 10 1/8 to 92 after the company recorded $168.2 million, or $1.08 a share, an increase of 15 percent over the year-ago period. Wall Street analysts expected a profit of $1.01 a share, according to First Call.

BMC SoftwareBMCS, -33.33%
shares rose 1 1/2 to 43 1/4 after the company posted fiscal fourth-quarter earnings of 47 cents a share, excluding a charge related to BMC's acquisition of Boole & Babbage. Analysts estimated the company would earn 45 cents a share vs. the 33 cents a share earned in last year's fourth quarter. Revenue in the quarter jumped 37 percent from the year-ago quarter to $386.5 million from $282.8 million. See Software Report.

Lawter InternationalLAW, -2.47%
shares added 3 1/16 to 12 on news Eastman Chemical agreed to buy the company in a deal valued at $500 million.

Unocal Corp.UCL, +0.00%
shares gained 4 11/16 to 44 1/4 after the oil giant posted first-quarter net income of $20 million or 8 cents a share, excluding charges. Including a charge of $10 million from the sale of the company's interest in a geothermal production venture in California at The Geysers, earnings were 3 cents a share. In both cases, the report beat the average estimate of 2 cents a share. See full story

Razorfishrazf
shares climbed 12 7/8 to 46 3/8 one day after its stock market debut. The Web consulting firm initially priced at $16 a share. See IPO Report.

Topjobs.net PLCtjob
rose 4 3/16 to 19 3/16 on its first day of trading. The company provides management, professional and technical recruiting online. Ladenburg, Thalmann & Co. led the deal, which raised $39.6 million at $12.See IPO Report

Xionics xion
shares jumped 5/8, or 20 percent, to 3 3/4 after the company reported first-quarter net income of 7 cents a share, beating the consensus estimate by 3 cents a share. Revenue rose to $8.03 million compared to the second-quarter total of $7.6 million.

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